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Aug 31, 2023
Pure Cycle Q4 2023 Earnings Report
Pure Cycle reported net income and revenue for the fourth quarter of 2023.
Key Takeaways
Pure Cycle Corporation announced its financial results for the year ended August 31, 2023. The company reported revenues of $3.4 million and a net income of $1.1 million for the fourth quarter of 2023.
Revenues for Q4 2023 were $3.4 million.
Net income for Q4 2023 was $1.1 million.
EBITDA for Q4 2023 was $1.9 million.
Fully diluted earnings per share for Q4 2023 was $0.05.
Pure Cycle
Pure Cycle
Forward Guidance
Sky Ranch continues to demonstrate solid growth with entry level homes and great location directly off Interstate 70.
Positive Outlook
- Sky Ranch community continues to demonstrate solid growth with entry level homes and great location directly off Interstate 70.
- Housing prices are stabilizing.
- Homebuilding partners at Sky Ranch continue to offer affordable products, thanks in large part to affordable lots.
- Enhancement of the community with the opening of the Sky Ranch Academy School.
- Ability to deliver affordable rental units that have been able to rent quickly.
Challenges Ahead
- Interest rates pressuring the housing market.
- Construction activities delayed.
- Timing of lot deliveries delayed.
- Fluctuations in lot sale revenue due to timing of construction activities.
- Decreased water deliveries due to decreased sales to oil and gas operators.